Candle stick pattern-Shooting star
Major trend line resistance - 1.02500
USDCHF trades lower after a jump above 1.02300. It hits high and 1.02369 and declined nearly 50 pips.US GDP came at 3.2% seasonally adjusted annual rate in the first three months of 2019 well above forecast of 2.0%. DXY shown a good jump after positive data and declined sharply on account of profit booking. Markets eye US Fed monetary policy for further direction.
The near term support is around 1.0178 (7- day MA) and any break below will take the pair to next level till 1.0145 (10- day MA)/1.0125.
The major resistance is around 1.02500 and any convincing break above targets 1.0300/1.03400.
It is good to sell on rallies around 1.0210-15 with SL around 1.0250 for the TP of 1.0125.
